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National Securities Depository CEO, MD, chairman, board of directors and AGM

BSE: 544467Capital MarketsSmall Cap

Last close ₹705.30down ₹15.35 (2.13%)

Share price at the BSE close on 23 Oct 2026. Previous close ₹720.65.

52-week range of traded prices to 23 Oct 2026
₹702.05Low, 23 Oct 2026₹1,198.00High, 30 Oct 2025
Market cap
₹14,106 Cr367th largest listed
P/E
36.3
P/B
6.0
Dividend yield
0.57%
ROE
16.4%
ROCE
16.3%
Debt to equity
0.00
Volume, BSE
4,07,176

National Securities Depository board of directors

At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.

  • ChairpersonParveen Kumar Gupta
  • Managing director and CEOVijay Chandok
  • Company Secretary and Compliance OfficerAlen Ferns

10 directors5 independent3 executive2 non-executive

  • Parveen Kumar Gupta · ChairpersonIndependent · joined Sep 2022 · reappointed Sep 2025 · 48 months as independent · 3 listed boards · 3 as independent · 6 committee seats, 2 as chair
  • Rajat MoonaIndependent · joined Jan 2024 · 32 months as independent · 1 listed board · 1 as independent
  • Sripriya KumarIndependent · joined May 2024 · 28 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 1 as chair
  • Shashank SaksenaIndependent · joined Feb 2026 · 7 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • Arun Kumar PandaIndependent · joined Sep 2026 · 0 months as independent · 1 listed board · 1 as independent · 5 committee seats, 2 as chair
  • Sanjay PanickerNon-executive · joined Jan 2025 · 1 listed board
  • Sriram KrishnanNon-executive · joined Aug 2023 · 1 listed board · 2 committee seats
  • Vijay Chandok · Managing director and CEOExecutive · joined Nov 2024 · 1 listed board · 2 committee seats
  • Subhash KelkarExecutive · joined Jul 2026 · 1 listed board
  • Ankit SharmaExecutive · joined Sep 2026 · 1 listed board

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

1 director who left
  • Madhu Sudan Sahoo, left 17 Apr 2026: Tenure Completion

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 13 Aug 20266 of 8 present4 independent · 13 days in between
    • 30 Jul 20266 of 8 present4 independent · 20 days in between
    • 9 Jul 20268 of 8 present4 independent · 9 days in between
    • 29 Jun 20267 of 7 present4 independent · 25 days in between
    3 earlier meetings
    • 3 Jun 20267 of 7 present4 independent · 29 days in between
    • 4 May 20266 of 7 present4 independent · 3 days in between
    • 30 Apr 20266 of 7 present4 independent

  • Audit Committee

    Chair Sripriya Kumar

    Parveen Kumar Gupta, Shashank Saksena, Arun Kumar Panda, Sriram Krishnan

    • 30 Jul 20263 of 4 present3 independent · 30 days in between
    • 29 Jun 20263 of 4 present3 independent · 59 days in between
    • 30 Apr 20263 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Sripriya Kumar

    Parveen Kumar Gupta, Rajat Moona, Sriram Krishnan

    • 11 Sep 20263 of 4 present3 independent · 28 days in between
    • 13 Aug 20263 of 4 present3 independent · 13 days in between
    • 30 Jul 20264 of 4 present3 independent · 20 days in between
    • 9 Jul 20264 of 4 present3 independent · 9 days in between
    5 earlier meetings
    • 29 Jun 20263 of 4 present3 independent · 25 days in between
    • 3 Jun 20264 of 4 present3 independent · 29 days in between
    • 4 May 20264 of 4 present3 independent · 3 days in between
    • 30 Apr 20264 of 4 present3 independent · 25 days in between
    • 4 Apr 20264 of 5 present4 independent

  • Stakeholders Relationship Committee

    Chair Shashank Saksena

    Sripriya Kumar, Arun Kumar Panda, Sriram Krishnan, Vijay Chandok

    No meeting listed in the filing.

  • Risk Management Committee

    Chair Parveen Kumar Gupta

    Shashank Saksena, Arun Kumar Panda, Sanjay Panicker, Vijay Chandok, B Rajendran

    • 25 Sep 20265 of 5 present3 independent · 87 days in between
    • 29 Jun 20264 of 5 present3 independent

  • Corporate Social Responsibility Committee

    Chair Rajat Moona

    Sripriya Kumar, Arun Kumar Panda, Sanjay Panicker, Vijay Chandok

    • 29 Jul 20263 of 4 present2 independent · 90 days in between
    • 29 Apr 20263 of 4 present1 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • K C Mehta & Co LLPPeer-review certificate valid to Mar 2027

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

National Securities Depository AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.National Securities Depository dividend history

Annual general meeting, 22 Sep 2026

9,21,821 shareholders on the register on 15 Sep 2026; present: 0 promoters and 137 others; votes counted by Mihen Halani / Mihen Halani and Associates.The company's voting result (opens in a new tab)

  1. To consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.03% · other public 0.01%

    Turnout: all 49.09% · promoters 0.00% · institutions 72.68% · other public 28.34%

  2. To declare final dividend of ?4/- per equity share, of face value of ?2/- each, for the financial year ended March 31, 2026.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 49.09% · promoters 0.00% · institutions 72.68% · other public 28.34%

  3. To consider and approve the appointment of Mr. Sriram Krishnan (DIN:07816879) as Non-Independent Director of the Company who retires by rotation and being eligible, offers himself for reappointment.
    Ordinary
    96.82% for3.18% against

    Against: promoters 0.00% · institutions 4.57% · other public 0.03%

    Turnout: all 49.09% · promoters 0.00% · institutions 72.68% · other public 28.33%

  4. To approve the appointment of Mr. Subhash Kelkar (DIN: 10188009) as Executive Director of the Company for Vertical 1 (Critical Operations).
    Special
    99.23% for0.77% against

    Against: promoters 0.00% · institutions 1.12% · other public 0.02%

    Turnout: all 46.53% · promoters 0.00% · institutions 67.20% · other public 28.33%

  5. To approve the appointment of Mr. Ankit Sharma (DIN: 10496270) as Executive Director of the company for Vertical 2 (Regulatory, Compliance, Risk Management & Investor Grievances).
    Special
    99.23% for0.77% against

    Against: promoters 0.00% · institutions 1.12% · other public 0.02%

    Turnout: all 46.53% · promoters 0.00% · institutions 67.20% · other public 28.33%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it

Mutual fund votes, meeting of 22 Sep 2026, 2 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
    2 for0 against
  • To declare final dividend of ?4/- per equity share, of face value of ?2/- each, for the financial year ended March 31, 2026.
    2 for0 against
  • To consider and approve the appointment of Mr. Sriram Krishnan (DIN:07816879) as Non-Independent Director of the Company who retires by rotation and being eligible, offers himself for reappointment.
    Against Edelweiss Mutual Fund
    • Edelweiss Mutual FundCompliant with law. No concern on the merits of the appointee. Governance Concern: Proposed appointee is an NRC member, and the Board is non-compliant with the requisite number of retiring Directors as required under Section 152 of the Companies Act. Since NRC is tasked with ensuring board compliance, concern is being raised on the proposed re-appointment on account of his failure as NRC member in appointing requisite number of retiring directors on the Board. Further, Aggregate attendance at Board meetings and Audit committee during last 3 FYs is low and no justification has been provided by the Company for his leave of absence
    1 for1 against
  • To approve the appointment of Mr. Subhash Kelkar (DIN: 10188009) as Executive Director of the Company for Vertical 1 (Critical Operations).
    Against Edelweiss Mutual Fund
    • Edelweiss Mutual FundNo concern on the merit, profile and proposed remuneration of the appointees. While independently the proposed appointments are compliant with law, however, it results in board non-compliance. Governance Concern: The proposed appointment as a non-retiring director would result in non-compliant board composition u/s 152(6) of the Companies Act, 2013. Although the appointment is necessitated by SEBI's governance framework mandating empowered Executive Directors to head Critical Operations & Regulatory, Compliance, Risk Management & Investor Grievances. However, classifying the Executive Director as not liable to retire by rotation is inconsistent with Section 152(6) of the Companies Act, 2013, which requires at least two-third of the Non-Independent Directors to be liable to retire by rotation. The relevant provisions of the Company's Articles of Association have been examined and noted; however, they cannot override the statutory requirements of the Companies Act, 2013
    1 for1 against
  • To approve the appointment of Mr. Ankit Sharma (DIN: 10496270) as Executive Director of the company for Vertical 2 (Regulatory, Compliance, Risk Management & Investor Grievances).
    Against Edelweiss Mutual Fund
    • Edelweiss Mutual FundNo concern on the merit, profile and proposed remuneration of the appointees. While independently the proposed appointments are compliant with law, however, it results in board non-compliance. Governance Concern: The proposed appointment as a non-retiring director would result in non-compliant board composition u/s 152(6) of the Companies Act, 2013. Although the appointment is necessitated by SEBI's governance framework mandating empowered Executive Directors to head Critical Operations & Regulatory, Compliance, Risk Management & Investor Grievances. However, classifying the Executive Director as not liable to retire by rotation is inconsistent with Section 152(6) of the Companies Act, 2013, which requires at least two-third of the Non-Independent Directors to be liable to retire by rotation. The relevant provisions of the Company's Articles of Association have been examined and noted; however, they cannot override the statutory requirements of the Companies Act, 2013
    1 for1 against

Mutual fund votes, meeting of 29 Sep 2025, 12 fund houses

  • 1) Adoption of Audited Standalone and Consolidated Financial Statements for the year ended 31st March, 2025 and the Reports of the Directors and Auditors thereon.
    1 for0 against
  • 2) Declare final dividend of Rs. 2.0 per equity share of face value of Rs. 2.0 each for FY25.
    1 for0 against
  • 3) Reappoint Sanjay Panicker (DIN 03531776) as Non-Executive Non-Independent Director, liable to retire by rotation.
    1 for0 against
  • 4) Appoint KANJ & Co. LLP as secretarial auditors for five years from FY26 and fix their remuneration.
    1 for0 against
  • Adoption of standalone and consolidated financial statements for the year ended 31 March 2025
    2 for0 against
  • Appoint KANJ & Co. LLP as secretarial auditors for five years from FY26 and fix their remuneration
    2 for0 against
  • Appointment of KANJ and Co. LLP, Company Secretaries (Firm Registration No. P2000MH005900 and Peer Review Certificate No. 6309/2024) as Secretarial Auditors of the Company for a period of five (5) consecutive Financial Years 2025-26 to 2029-30 to conduct Secretarial Audit of the Company at such remuneration and on such terms and conditions as may be decided by the Board of Directors in consultation with secretarial Auditor from time to time.MoreLess
    9 for0 against
  • Declare final dividend of Rs. 2.0 per equity share of face value of Rs. 2.0 each for FY25
    2 for0 against
  • Reappoint Sanjay Panicker (DIN 03531776) as Non-Executive Non-Independent Director, liable to retire by rotation
    2 for0 against
  • To appoint Mr. Sanjay Panicker (DIN 03531776) as Non-Independent Director, of the Company who retires by rotation and being eligible, offers himself for re-appointment.
    9 for0 against
  • To declare final dividend at the rate of Rs. 2/- per Equity Share, of the face value of Rs. 2/- each (i.e. 100%), for the financial year ended March 31, 2025, on 20 Crore equity shares of the Company.
    9 for0 against
  • To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025, together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
    9 for0 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Fines and tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Fine or penaltySuperintendent, Division Mumbai East, CBIC GST Bhavan, MumbaiSince 24 Jul 2026

    The Company has received a show cause notice from the Superintendent, Division Mumbai East, CBIC GST Bhavan, Mumbai imposing a penalty of Rs. 50, 000/- under Section 125 and Section 28 of CGST Act, 2017 and Rule 19 of CGST Rules, 2017, on account of the delay in filing the application for amendment of the Company’s GST registration for the removal of the name of a Director.

    Penalty of Rs. 50, 000/- under Section 125 and Section 28 of CGST Act, 2017 and Rule 19 of CGST Rules, 2017 against the Company, on account of the delay in filing the application for amendment of GST registration for removal of the name of a Director.MoreLess
  • Fine or penaltyAdditional Commissioner of CGST & CX AUDIT-II MumbaiSince 13 Aug 2026

    The Company has received a Show Cause – cum – Demand Notice (“SCN”) on August 13, 2026 from the Additional Commissioner of CGST & CX AUDIT-II Mumbai (“the GST Authority”), issued under Section 74 (1) of the Central Goods and Services Tax Act, 2017, whereby a demand of Rs. 28,68,06,259 /- (CGST of Rs. 14,34,03,129/- and SGST Rs. 14,34,03,129/-) has been raised by the GST Authority. The SCN, inter-alia, alleges that the company has not paid GST on royalty for use of brand name and logo by their related associate entities, namely M/s NSDL Payment Bank Limited and M/s NSDL Data Management Limited. The Company has been called upon to show cause as to why the aforesaid demand, interest and penalty should not be confirmed against it.

    Penalty: Section 74(1) read with Section 122(2)(b) of the CGST Act, 2017 corresponding provisions of the Maharashtra Goods and Services Tax Act, 2017, read with Section 20 of the Integrated Goods and Services Tax Act, 2017.MoreLess
  • Tax disputeService tax DepartmentSince 12 Jun 2020
    The case was last listed on March 6, 2025, before the Bench of Hon’ble Chief Justice Sanjiv Khanna. The matter now stands adjourned, and no further hearing date has been notified by the Court yet.
    At the filing before: Service Tax demand in respect of Depository Participant Service. Filled an appeal with Supreme Court against the order issued by the Central Excise and Service Tax Appellate Tribunal.
  • Tax disputeGoods and Service Tax - Maharashtra StateSince 28 Nov 2024
    We have filed an appeal in GSTAT in July 23,2026.
    At the filing before: Our tax consultants attended the personal hearing on March 27, 2025, where the Commissioner (Appeals-II), CGST & CX acknowledged our submissions and responses.
  • Tax disputeIncome Tax DepartmentSince 24 Jan 2020
    Final High Court order has been passed in the favour of NSDL. OGE order received and application for rectification of OGE submitted.
    At the filing before: Income Tax Department had preferred an appeal for AY 2017-18 with the High Court against the order pronounced by the ITAT in favour of the Company
  • Tax disputeIncome Tax DepartmentSince 3 Apr 2021
    ITAT passed order in favour of the Company. Detailed ground wise submission shared against notice under section 250 of the Act.
    At the filing before: Appeal filled in relation to order passed by the Income Tax Authority for AY 2018-19 at ITAT and CIT(A).
  • Tax disputeIncome Tax DepartmentSince 2 Apr 2026
    Follow up letter for OGE to CIT(A) physically filed at the Income Tax Office on July 29, 2026. Acknowledgement of the same shared vide email dated July 31, 2026.
    At the filing before: Follow up letter for AY 2019-20 in respect of OGE to CIT(A) physically filed at the Income Tax Office on April 02, 2026. Acknowledgement of the same shared vide email dated April 03, 2026.
  • Tax disputeIncome Tax DepartmentSince 25 Oct 2022
    The matter is still pending before CIT(A), all the hearing notices issued are duly complied and relevant submissions were made.
    At the filing before: Appeal filled in relation to order passed by the Income Tax Authority for AY 2020-21 before the CIT(A) against the demand order.
14 more
  • Tax disputeIncome Tax DepartmentSince 12 Dec 2022
    Detailed submission has been filed against the hearing notice. CIT(A) has recently passed the order in favour of the Company. We are following up with the tax authorities for the passing of Order giving effect (OGE) to the said order. Cover letter for the passing of Order giving effect (OGE) to the said order filed at tax office on June 26, 2025.MoreLess
    At the filing before: Appeal filled in relation to order passed by the Income Tax Authority for AY 2021-22 before the CIT(A) against the Intimation order u/s 143(1) of the Act.
  • Tax disputeIncome Tax DepartmentSince 28 Sep 2024
    Final CIT(A) Order u/s 250 has been passed and ruled in the favour of NSDL.We are following up with the tax authorities for the passing of Order giving effect (OGE) to the said order. Letter for Order Giving Effect (OGE) has been filed online and physically on June 10, 2025.MoreLess
    At the filing before: Appeal filled for AY 2023-24 in relation intimation order before CIT(A). Additionally, the company has filled rectification application.
  • Tax disputeIncome Tax DepartmentSince 9 Dec 2024
    The Company had received rectification order U/s 154 of the act. Appeal filled with CIT(A) against the rectification order.
    At the filing before: Intimation order issued under 143(1) for AY 2024-25. Proposed adjustment of refund U/s 154 Rectification Order U/s 154
  • Tax disputeIncome Tax DepartmentSince 29 Jun 2026
    The Company had received rectification order U/s 154 of the act. Appeal filled with CIT(A) against the rectification order.
    At the filing before: Intimation order issued under 143(1) for AY 2025-26. Rectification Order U/s 154
  • Tax disputeGoods and Service Tax - Maharashtra StateSince 28 Mar 2024
    Personal hearing was attended on 2nd July, 2026 by company official and explained all discrepancies in the matter, along with the necessary clarifications. Subsequently, the appellate office informed the Company that the earlier appeal submissions had been misplaced by the Department. Accordingly, the Company re-submitted the complete appeal documents via email on July 13, 2026.MoreLess
    At the filing before: GST department had passed an GST demand order for excess utilization of GST ITC related to FY 2017-18 to FY 2019-20. Appeal filed against the order on 28th March, 2024.
  • Tax disputeGoods and Service Tax - Maharashtra StateSince 14 May 2026
    The Company has filed all information, documents, and explanations sought by the Department. Till date, any adverse observations have not been raised by the Department, and the audit is currently in progress.MoreLess
    At the filing before: GST Department issued an audit notice (routine audit), under Section 65 of the CGST Act, 2017 for the financial years 2020-21 to 2024-25.
  • Tax disputeGoods and Service Tax - Maharashtra StateSince 30 Jun 2026
    The Company submitted its reply on July 07, 2026, clarifying that FY 2022-23 is already subsumed under the period covered by the GST audit initiated. Accordingly, the Company has filed an appeal to drop the proceedings initiated under the said notice. The matter is currently pending before the Department.MoreLess
    At the filing before: The GST Department issued a notice in Form GST ASMT-10 for FY 2022-23.
  • Tax disputeIncome Tax DepartmentSince 29 May 2026
    For AY-2017-18, an order u/s 250 was issued on May 29, 2026 dismissing the appeal filed against the intimation u/s 143(1) and effectively subsuming both the appeals into a single appeal u/s 143(3) of the Act. The matter for the captioned year is not closed as the appeal preferred against order under section 143(3) of the Act is still in process.MoreLess
    At the filing before: For AY-2017-18 1. Intimation u/s. 143(1) dated 15-Mar-19 - CPC Bangalore 2. Assessment Order dated 25-Dec-19 u/s 143(3) - ACIT 7(2)(2) – Mumbai Matter - Adhoc Adjustment to return of Income - Short TDS Credit - Levy of Interest u/s. 234B and u/s 234CMoreLess
  • Tax disputeIncome Tax DepartmentSince 23 Jun 2026
    CIT(A) decided the appeal in favour of the Company vide order dated June 23, 2026. With respect to the above CIT(A) order, a request for passing OGE was made on July 1, 2026.
    At the filing before: For AY-2019-20 1. Intimation u/s. 143(1) dated 10-May-20 - CPC Bangalore Matter - Adjustment to return of Income - Short TDS Credit - Levy of Interest u/s 234C - Interest u/s.244A of the Act not grantedMoreLess
  • Tax disputeIncome Tax DepartmentSince 15 May 2026
    Intimation order issued under section 143(1) of the Act on May 15 2026 Company has received a Refund of INR 2.07 Crores on dated June 26, 2026 for the AY.
    At the filing before: For AY-2025-26 1. Intimation u/s. 143(1) dated 15-May-26 Matter - Adjustment to return of Income - Short TDS Credit
  • Tax disputeCGST, MumbaiSince 28 Mar 2025
    GST Audit for FY 18-19 to FY 23-24 is closed
    At the filing before: Final Audit Report issued on 29/05/2026
  • Tax disputeSGST, MumbaiSince 26 May 2026
    Proceedings concluded in favour of the Bank
    At the filing before: ASMT-12 issued on 7/07/2026
  • Tax disputeCGST, MumbaiSince 11 Nov 2025
    Submission is under review of officer
    At the filing before: Open
  • Tax disputeIncome Tax DepartmentSince 22 Sep 2026
    The compilation of documents is currently in progress
    At the filing before: Assessment open for AY 2025-26

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

At most 1 complaint open, quarter to Sep 2025.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
Yes
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.